CORRECTION FROM SOURCE: Edison Arranges Private Placement

This document corrects and replaces in its entirety the press release that was issued by Edison Cobalt Corp ("Edison Cobalt" or the "Company") on February 23, 2021 at 13:26 PM PST (the "Initial Press Release"). The error in the Initial Press Release announced that Odyssey Trust Co. has replaced Computershare as the registrar and transfer agent of Smooth Rock Ventures Corp common shares. when in fact, Odyssey Trust Co. has replaced Computershare as the registrar and transfer agent of Edison Cobalt Corp. The corrected press release follows in full below:

Vancouver, British Columbia--(Newsfile Corp. - February 23, 2021) - Edison Cobalt Corp (TSXV: EDDY) ("Edison Cobalt" or the "Company") is pleased to announce it has arranged a non-brokered private placement for aggregate gross proceeds of up to $1,000,000 through the issuance of 10,000,000 units at a price of $0.10 per unit.

Each unit will consist of one common share and one warrant. Each warrant entitles the holder to acquire one common share of the company at a price of $0.12 per common share for a period of 24 months following the date of issuance.

The common shares to be issued in connection with the private placement and any common shares to be purchased on the exercise of warrants will be subject to a statutory four-month hold period from the closing date of the private placement.

Proceeds of the private placement will be used for work on the Company's mineral properties, future acquisitions and general working capital. The closing of the private placement is subject to TSX Venture Exchange approval.

The Company also announces Odyssey Trust Co. has replaced Computershare as the registrar and transfer agent of Edison Cobalt Corp.'s common shares.

All inquiries and correspondence relating to the shareholder records, transfer of shares, lost certificates and/or change of address should be directed to Odyssey Trust Co. (Canada) as follows: Odyssey Trust Company, 323-409 Granville St., Vancouver, B.C., V6C 1T2, phone: 1-587-885-0960.

About Edison Cobalt Corp.

Edison Cobalt Corp. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium and other energy metals. Edison Cobalt Corp.'s acquisition strategy focuses on acquiring affordable, cost-effective and highly regarded mineral properties in areas with proven geological potential. The Company is looking to build a portfolio of quality assets capable of supplying critical materials to the battery industry. The Company intends to capitalize on and have its shareholders benefit from the renewed interest in the battery metals space.

On behalf of the Board of Directors:
"Neil Pettigrew"
Neil Pettigrew
Chief Executive Officer, Director

For more information please contact:
 Tel: (416) 276-6689
Email: [email protected]
ficer, Director Website: www.edisoncobalt.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75261